Colorado lawmakers weigh dramatic overhaul of oil drilling laws

Colorado Gov. Jared Polis speaks at a Capitol in Denver news conference to announce Democrat-sponsored legislation to change the way the state regulates oil and gas drilling on Thursday, Feb. 28, 2019. Polis and top lawmakers said the legislation would make public health and safety the top priorities of regulators.

Colorado Gov. Jared Polis speaks at a Capitol in Denver news conference to announce Democrat-sponsored legislation to change the way the state regulates oil and gas drilling on Thursday, Feb. 28, 2019. Polis ... more

Photo: Jim Anderson, AP

Photo: Jim Anderson, AP

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Colorado Gov. Jared Polis speaks at a Capitol in Denver news conference to announce Democrat-sponsored legislation to change the way the state regulates oil and gas drilling on Thursday, Feb. 28, 2019. Polis and top lawmakers said the legislation would make public health and safety the top priorities of regulators.

Colorado Gov. Jared Polis speaks at a Capitol in Denver news conference to announce Democrat-sponsored legislation to change the way the state regulates oil and gas drilling on Thursday, Feb. 28, 2019. Polis ... more

Photo: Jim Anderson, AP

Colorado lawmakers weigh dramatic overhaul of oil drilling laws

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A proposal to overhaul Colorado’s drilling laws has its first hearing today, pushing the bill one step closer to a vote by the Democrat-controlled state legislature.

The legislation, supported by Governor Jared Polis, would significantly change the way drilling is permitted and amend elements of state law that have been instrumental in developing Colorado’s most prolific oil play, the Denver-Julesburg basin. Anadarko Petroleum Corp., Noble Energy Inc. and Extraction Oil and Gas Inc., are among the biggest acreage holders in the basin.

While Colorado has some of the strictest environmental regulations of any oil-producing state, the law has generally favored development, granting the energy regulator broad authority over siting and drilling. Below are a few of the key changes proposed:

As the proposed changes center on public health and safety, they would disproportionately affect Denver-Julesburg producers, whose acreage overlaps with Denver’s expanding suburbs.